Manager Comment January 2018 – Vietnam Fund

The Vietnam Fund returned −1.6% in January with a NAV of USD 1,747.73, bringing the return since inception to +74.8%. This represents an annualized return of +11.6% p.a. The Ho Chi Minh City VN Index in USD gained +2.4%, while the Hanoi VH Index lost −1.0% (in USD...

Manager Comment December 2018 – Vietnam Fund

The Vietnam Fund returned −2.0% in December with a NAV of USD 1,776.74, bringing the return since inception to +77.7%. This represents an annualised return of +12.1% p.a. The Ho Chi Minh City VN Index in USD lost −3.4%, while the Hanoi VH Index lost −0.3% (in USD...

Manager Comment November 2018 – Vietnam Fund

The Vietnam Fund returned +0.4% in November with a NAV of USD 1,813.88, bringing the return since inception to +81.4%. This represents an annualised return of +12.8% p.a. The Ho Chi Minh City VN Index in USD gained +1.3%, while the Hanoi VH Index lost −0.5% (in USD...

Manager Comment October 2018 – Vietnam Fund

The AFC Vietnam Fund returned −2.1% in October with a NAV of USD 1,805.80, bringing the return since inception to +80.6%. This represents an annualised return of +12.9% p.a. The Ho Chi Minh City VN Index in USD lost −10.1%, while the Hanoi VH Index lost −9.5% (in USD...

Manager Comment September 2018 – Vietnam Fund

The Vietnam Fund gained +3.0% in September with a NAV of USD 1,845.40, bringing the return since inception to +84.5%. This represents an annualised return of +13.7% p.a. The Ho Chi Minh City VN Index in USD gained +2.7%, while the Hanoi VH Index added +3.0% (in USD...

Manager Comment August 2018 – Vietnam Fund

The Vietnam Fund gained +0.8% in August with a NAV of USD 1,791.39, bringing the return since inception to +79.1%. This represents an annualised return of +13.2% p.a. Due to the heavy weight of banking stocks The Ho Chi Minh City VN Index in USD gained +3.4%, while...
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